Profit and Loss Quiz Set 005 | Maths Aptitude Mock Test on Profit and Loss Set 5 | mock tests for Bank PO, SSB/SSC Exams, SO Clerical Exam, GATE Exam, LIC AO, GIC AO, etc.

**Your Score**
Correct Answers:
Wrong Answers:
Unattempted:

Question 1

A merchant is selling cloth at a profit of 254%. If the cost increases by 18%, but he continues to sell at the same price, then what is the new profit percentage?

200%.

300%.

100%.

400%.

Soln.
Ans: a

Let the cost price be CP. Then the SP = CP x (1 + $254/100$) = $354/100$ × CP. New CP = (1 + $18/100$) × CP, which is $118/100$ × CP. New Profit% = (SP/CP - 1) × 100, which is $(({354/100 × CP}/{118/100 × CP}) - 1) × 100)$, which becomes $(354 - 118)/118$ × 100 = 200%.

Solution | Discuss! | Chapters»

Question 2

What should be the marked price of an item if a profit of 125% is to be made after allowing a discount of 25%?

Rs. 300.

Rs. 310.

Rs. 290.

Rs. 320.

Soln.
Ans: a

If the cost is 100, the sale price would be 100 + 125 = Rs. 225. If M is the marked price, then sale price is (100 - 25)% of M = 225. Which gives 75M/100 = 225, which gives M = Rs. 300

Solution | Discuss! | Chapters»

Question 3

When an item is sold for Rs. 49000, a loss of 55% is incurred. What should be the sale price to earn a profit of 125%?

Rs. 245000.

Rs. 245010.

Rs. 245020.

Rs. 244990.

Soln.
Ans: a

As a shortcut, we can set a proportionality ${X/{100 + 125}$ = ${49000/{100 - 55}.$ Solving, X = 225 × $49000/$45, which gives X = 245000.

Solution | Discuss! | Chapters»

Question 4

An article was purchased at ${3/50}$ of its marked price. Later it was sold at a 25% more than the marked price. What is the profit percentage?

$1983{1/3}$%.

3400%.

1400%.

$1081{9/11}$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (3/50) × 100 = 6. The profit 125 - 6 = Rs. 119. Percent profit = $119/6$ × 100 = $1983{1/3}$%.

Solution | Discuss! | Chapters»

Question 5

A loss of x% is incurred if an item is sold for Rs. 6200. But if the same item is sold for Rs. 13600 a profit of x% is earned. At what price should the item be sold so as to earn a profit of 15%?

Rs. 11385.

Rs. 11386.

Rs. 11384.

Rs. 11387.

Soln.
Ans: a

Let the cost of the item be C. Then, ${C - 6200}/C$ = ${13600 - C}/C$, which gives C = Rs. 9900. To sell it it a profit of 15%, ${S - 9900}/9900$ × 100 = 15, which gives S = Rs. 11385.

Solution | Discuss! | Chapters»